Cloud API Market Analysis, Forecast 2022-27: Industry Size, Share, Trends and Growth

The global cloud API market size reached US$ 827.25 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2,422.37 Million by 2027 exhibiting a CAGR of 18.20% during 2022-2027.

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Cloud application programming interface, popularly known as cloud API, represents the software systems that allow applications to transfer and communicate information to one another in the cloud. They can be categorized into SaaS APIs, PaaS APIs, IaaS APIs, cross-platform APIs, etc. Cloud API systems provide direct or indirect cloud infrastructure and software services to end-users. They aid in improving the customer experience and productivity and enhance connectivity, cost-effectiveness, and collaboration. Consequently, cloud API gateways find extensive applications across numerous sectors, such as education, manufacturing, information technology (IT), healthcare, banking, financial services and insurance (BFSI), etc.

Covid-19 Impact: 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Cloud API Market Trends and Drivers: 

The expanding digitization and the growing adoption of cloud technology among business organizations, owing to several advantages, including remote location access and flexibility, are primarily driving the cloud API market. Furthermore, the elevating product usage by small and medium-sized enterprises (SMEs) to ensure faster communication means and ease software patched distribution to streamline updates is acting as another significant growth-inducing factor.

Additionally, the launch of complex predictive maintenance systems that offer expected mean time between mechanical failures and send specific data consisting of part name, item number, etc., is also positively influencing the global market.

Moreover, the rising demand for SaaS APIs, on account of the increasing software-centric approaches for smart devices and the development of multiple mobile applications are anticipated to bolster the cloud API market in the coming years.

Cloud API Market Report Scope
Report CoverageDetails
Market size value in 2021US$ 827.25 Million
Market forecast in 2027US$ 2,422.37 Million
Growth RateCAGR of 18.20% from 2022 to 2027
Base year for estimation2021
Historical data2016-2021
Forecast period2022-2027
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredType, Enterprise Size and Industry Vertical
Regional scopeNorth America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Key companies profiledAmazon Web Services Inc. (Amazon.com Inc.), Broadcom Inc., Citrix Systems Inc., Dell Technologies Inc., Google LLC (Alphabet Inc.), International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Technology Inc., Salesforce Inc., SAP SE and Tibco Software Inc.
Market DynamicsParent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purviewIf our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Report Segmentation: 

The report has been segmented the market into following categories:

Breakup by Type:

  • SaaS APIs
  • PaaS APIs
  • IaaS APIs
  • Cross-platform APIs

Breakup by Enterprise Size:

  • Large Enterprises
  • Small and Medium Enterprises (SMEs)

Breakup by Industry Vertical:

  • Healthcare
  • BFSI
  • IT and Telecommunication
  • Manufacturing
  • Education
  • Media and Entertainment
  • Others

By Geography:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

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List of Major Key Players: 

The major players in the market are Amazon Web Services Inc. (Amazon.com Inc.), Broadcom Inc., Citrix Systems Inc., Dell Technologies Inc., Google LLC (Alphabet Inc.), International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Technology Inc., Salesforce Inc., SAP SE and Tibco Software Inc.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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By Michael Caine

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